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Policy

Policy content

I - Issuers and financial disclosure

I. 1 - Periodic and ongoing information

I. 1.1. Financial disclosure

I. 1.1.1. General provisions

Recommendation DOC-2013-08 Pro forma financial information

Instruction DOC-2011-04 Procedures for communicating on transactions involving the temporary transfer of shares.

I. 1.1.2. Information to shareholders

Recommendation DOC-2012-05 General meetings of shareholders of listed companies

Position DOC-2015-10 Communication by companies on fees associated with holding securities in pure registered form

Recommendation DOC-2015-09 Communication by companies aimed at promoting their securities to individual investors

Recommendation DOC-2011-06 Proxy voting advisory firms

I. 1.1.3. Information from senior managers

I. 1.1.5. Transfer of a company from a market to another

Position - Recommendation DOC-2010-03 AMF Q&A pertaining to the transfer of a listed company from Alternext to Euronext

I. 1.2. Corporate governance and internal control

Recommendation DOC-2012-02 Corporate governance and executive compensation in companies referring to the AFEP-MEDEF code - Consolidated presentation of the recommendations contained in the AMF annual reports

Recommendation DOC-2010-15 AMF supplementary report on corporate governance, executive compensation and internal control – Mid-caps and small-caps governed by the Middlenext corporate governance code of December 2009

Recommendation DOC-2010-16 Reference framework for risk management and internal control systems

I. 1.3. Dissemination, filing and storage of regulated information

Instruction DOC-2007-03 Electronical filing to the AMF of regulated information

I. 1.4. Accounting information

I. 1.4.1. Table of contents of the recommendations for the closing of the financial statements applicable as of January 1

Recommendation DOC-2018-06 Table des matieres recommandations d'arrêté des comptes applicables au 1er janvier 2018 (in French only)

I. 1.4.2. Financial statements

Recommendation DOC-2019-13 2019 Financial Statements and Review of 2017-2018 Financial Statements

Recommendation DOC-2018-12 Annual report - 2018 financial statements and review of the 2016-2017 financial statements

Recommendation DOC-2017-09 2017 Financial Statements

Recommendation DOC-2016-09 2016 financial statements

Recommendation DOC-2015-08 2015 Financial Statements

Recommendation DOC-2014-13 Financial statements 2014

Recommendation DOC-2013-19 Financial statements 2013

Recommendation DOC-2012-16 Financial statements 2012

Recommendation DOC-2011-16 Financial statements 2011

Recommendation DOC-2010-12 Financial statements 2010

Recommendation DOC-2009-28 Financial statements 2009

Recommendation DOC-2008-22 Financial statements 2008

Recommendation DOC-2007-23 Financial statements 2007

Recommendation DOC-2006-22 Financial statements 2006

I. 1.4.3. IFRS

Recommendation DOC-2008-13 Fair value measurement of certain financial instruments

I. 1.5. Relationships with the statutory auditors

Position - Recommendation DOC-2010-25 Relationships between statutory auditors and the AMF

I. 2 - Prospectus

Instruction DOC-2019-06 Procedure for examination of the application and establishment of an information document for approval by the AMF on an initial coin offering

Instruction DOC-2018-07 Informations à founir aux investisseurs dans le cadre d'une offre ouverte au public d'un montant inférieur à 8 millions d'euros

I. 3 - Registration document

Position - Recommendation DOC-2009-16 Guide d'élaboration des documents de référence

I. 4 - Takeover bids

I. 4.1. General rules and common provisions

Instruction DOC-2006-07 Takeover bids

Instruction DOC-2009-08 Takeover bids supervision

I. 4.2. Independent appraisal

Instruction DOC-2006-08 Fairness opinion

Recommendation DOC-2006-15 Fairness opinion in the context of corporate finance transactions

I. 4.3. Shareholders’ agreement

Position DOC-2004-02 Advertising campaigns for public disclosure of standstill commitments to hold shares entered into under the Dutreil Act

I. 4.4. Major holding notification, letter of intent and change in intent

Instruction DOC-2008-02 Major shareholding notification and letter of intent

I. 4.5. Orderly acquisition procedure

Instruction DOC-2010-02 Transparency and procedure for the orderly acquisition of debt securities that do not give access to capital

I. 5 - Financial operations

1.5.1. General rules and common provisions

I. 5.4. Share buybacks - Stabilisation

Instruction DOC-2017-03 Modalités de déclaration des opérations réalisées dans le cadre des interventions des émetteurs cotés sur leurs propres titres et des mesures de stabilisation

Position - Recommendation DOC-2017-04 Guide relatif aux interventions des émetteurs cotés sur leurs propres titres et aux mesures de stabilisation

I. 5.6. Major assets disposal and acquisition

Position - Recommendation DOC-2015-05 Major Asset Disposals and Acquisitions

II - Investment products

II. 1 - Collective investment schemes (CISs)

II. 1.1. Common provisions applicable to UCITS and CISs

Position DOC-2020-08 Requirements for liquidity stress testing in UCITS and AIFs

Position DOC-2018-05 Requirements for stress test scenarios under article 28 of the european money market fund regulation

Position - Recommendation DOC-2020-03 Information to be provided by collective investment schemes incorporating non-financial approaches

Position - Recommendation DOC-2011-05 A guide to regulatory documents governing collective investment undertakings

Position - Recommendation DOC-2011-24 A guide to drafting collective investment marketing materials and distributing collective investments

Position - Recommendation DOC-2011-25 A guide to the monitoring of collective investment undertakings

Position DOC-2008-14 Fund performance swaps and actively managed investment structures

Position DOC-2012-12 A guide to fees

Instruction DOC-2011-15 Calculation of global exposure for authorised UCITS and AIFs

Position DOC-2012-15 Criteria applicable to "philanthropic" collective investments

Position DOC-2007-19 Extra-financial criteria for securities selection and application of these criteria to funds declaring themselves compliant with Islamic law

Instruction DOC-2017-05 Conditions for setting up redemption gate mechanisms

II. 1.2. Specific provisions applicable to UCITS

Instruction DOC-2011-19 Authorisation procedures, preparation of a KIID and a prospectus and periodic reporting for French and foreign UCITS marketed in France

Position DOC-2013-06 ETFs and other UCITS issues

II. 1.3. Specific provisions applicable to CISs open to all subscribers

II. 1.3.1. Specific provisions applicable to Funds open to non-professional investors

Instruction DOC-2011-20 Authorisation processes, preparation of a KIID and a prospectus and periodic reporting for retail investment funds, funds of alternative funds and professional retail investment funds

Instruction DOC-2019-04 Real estate investment companies, Forestry investment companies and Forestry groups

Instruction DOC-2011-23 Authorisation and establishment processes for a KIID and a prospectus and periodic information for real estate collective investment undertakings and professional real estate collective investment undertakings

Instruction DOC-2011-22 Authorisation procedures, preparation of a KIID and rules, and reporting for private equity funds

Position - Recommendation DOC-2012-11 Guide for retail and professional private equity funds

II. 1.3.2. Specific provisions applicable to Funds open to professional investors

Instruction DOC-2011-20 Authorisation processes, preparation of a KIID and a prospectus and periodic reporting for retail investment funds, funds of alternative funds and professional retail investment funds

Instruction DOC-2011-23 Authorisation and establishment processes for a KIID and a prospectus and periodic information for real estate collective investment undertakings and professional real estate collective investment undertakings

Instruction DOC-2012-06 Procedures for making disclosures and introducing changes, preparation of a prospectus and reporting for specialised professional funds and professional private equity funds

Position DOC-2005-14 Q&A on professional specialised investment funds

Position - Recommendation DOC-2012-11 Guide for retail and professional private equity funds

Position DOC-2006-18 Calculation period for the net asset values of funds of alternative funds and retail investment funds

II. 1.3.3. Specific provisions applicable to employee investment undertakings

Instruction DOC-2011-21 Authorisation procedures, preparation of a KIID and a prospectus, and reporting for employee investment undertakings

Position - Recommendation DOC-2012-10 Guide relating to employee investment undertakings

II. 1.3.4. Specific provisions applicable to securitisation vehicles

Instruction DOC-2011-01 Securitisation vehicles

Instruction DOC-2014-02 Disclosure to investors in unauthorised or undeclared AIFs

Position DOC-2014-09 Methods for meeting requirements to report to the AMF under the AIFM directive

Position DOC-2013-22 Frequently asked questions on the transposition of the AIFM Directive into French law

Position DOC-2013-16 Key concepts of the Alternative Investment Fund Managers Directive

II. 2 - Other investment products

Position DOC-2011-08 Q&A on foreign exchange trading

Position DOC-2017-01 Questions and answers – Prohibition of marketing communications with regard to the provision of investment services on certain financial derivatives

III - Providers

III. 1 - Investment services providers

III. 1.1. Authorisation / Programme of operations / Passport

Instruction DOC-2019-23 Rules applicable to digital asset service providers

Instruction DOC-2016-02 Organisation of asset management companies for managing loan-granting AIFs

Position DOC-2008-23 Questions and answers on the concept of investment service of investment advice

Instruction DOC-2014-01 Programme of activity of investment services providers and information provided to the AMF

Position DOC-2012-08 Placement services and marketing of financial instruments

Position - Recommendation DOC-2012-19 Programme of operations guide for asset management companies and self-managed collective investments

Position DOC-2018-08 Joint guidelines of the European banking authority (EBA) and the European securities and markets authority (ESMA) on the assessment of the suitability of members of the management body and key function holders (eba/gl/2017/12)

Position DOC-2013-22 Frequently asked questions on the transposition of the AIFM Directive into French law

Position - Recommendation DOC-2009-24 Q&A on changes in the ownership structure of asset management companies

Position DOC-2017-10 Prudential assessment of acquisitions and increases of qualifying holdings in the financial sector

Instruction DOC-2008-03 Authorisation procedure for investment management companies, disclosure obligations and passporting

Position - Recommendation DOC-2008-15 Funds of hedge funds management in France

III. 1.2. Organisational rules

Instruction DOC-2020-07 Questions & answers on the digital asset service providers regime

Position DOC-2009-29 Questions-Réponses sur le dispositif de vérification du niveau de connaissances minimales des acteurs de marché

Instruction DOC-2019-24 Digital assets service providers - Cybersecurity system of requirements (version 1.0)

Position - Recommendation DOC-2014-06 Guide to the organisation of the risk management system within asset management companies

Instruction DOC-2012-01 Risk management organisation for collective investment undertaking management activities and discretionary portfolio management investment services

Instruction DOC-2006-09 Examination for the issuance of professional licences to compliance and internal control officers and investment services compliance officers

Position DOC-2012-17 Compliance function requirements

Position - Recommendation DOC-2007-24 Q&A on the organisational rules of investment services providers

III. 1.3. Rules of conduct

Position - Recommendation DOC-2014-07 Guide to best execution

Instruction - Position - Recommendation DOC-2019-12 Professional obligations of investment services providers to retail clients with regard to third-party portfolio management

Position - Recommendation DOC-2013-10 Rémunérations et avantages reçus dans le cadre de la commercialisation et de la gestion sous mandat d'instruments financiers

Position DOC-2019-03 MIFID II suitability requirements

Instruction DOC-2008-04 Application of business conduct rules to marketing of units or shares in UCITS or AIFs by asset management companies, management companies or managers

Instruction DOC-2007-02 Investment decision and order execution support services

Position DOC-2016-14 Sound remuneration policies under the UCITS Directive

Recommendation DOC-2017-07 Future performance simulations

Position - Recommendation DOC-2005-19 Exercising voting rights for asset management companies

Position DOC-2013-11 Remuneration policies for alternative investment fund managers

Position - Recommendation DOC-2007-25 Q&A on the rules of conduct applicable to investment services providers

III. 1.4. Other obligations

Position DOC-2013-09 The exemption for market making activities and primary market operations under Regulation (EU) 236/2012

Instruction DOC-2008-05 Reporting suspicious transactions

III. 2 - Other providers

III. 2.1. Custody account-keeper

Instruction DOC-2005-09 Discretionary portfolio management certificate

III. 2.2. Depositaries

Instruction DOC-2016-01 Authorisation procedure for investment firms acting as a UCITS depositary – Review procedure for the performance specifications of other UCITS and AIF depositaries

III. 2.3. Financial analysts

Recommendation DOC-2007-12 Production of independent research for large scale securities offerings intended for retail investors

III. 2.4. Legal entities managing certain Other AIFs

Instruction DOC-2013-21 Registration arrangements for legal entities, other than portfolio management companies, managing certain Other AIF

Position DOC-2013-22 Frequently asked questions on the transposition of the AIFM Directive into French law

III. 2.5

III. 3 - Anti-money laundering and combating the financing of terrorism

Position DOC-2019-16 Guidelines on due diligence obligations with respect to clients and their beneficial owners

Position - Recommendation DOC-2019-17 Guidelines on the concept of politically exposed persons

Position - Recommendation DOC-2019-15 Guidance on the risk-based approach to combating money laundering and terrorist financing

Position DOC-2019-18 Guidelines on the obligation to report to TRACFIN

Position DOC-2019-14 Guidelines on risk factors

III. 4 - Crowdfunding

Instruction DOC-2014-12 Information to be provided to investors by the issuer and crowdfunding investment adviser or investment services provider within the framework of crowdfunding

Position - Recommendation DOC-2018-02 Marketing of crowdfunding offers, calculation of default rates and run-off management of platforms

Instruction DOC-2014-11 Description of the AMF review process of registration applications by crowdfunding investment advisers and the transmission of annual disclosures by said advisers

Position DOC-2014-10 Placing without a firm commitment basis and crowdfunding

IV - Marketing - Customer relationship

IV. 1 - General provisions

Instruction DOC-2020-04 Requirements applicable to professional associations of financial investment advisors

Instruction DOC-2013-07 Requirements relating to the professional competence of financial investment advisers, the updating of their knowledge, and reporting to the AMF on their activity and that of associations

Position - Recommendation DOC-2006-23 Questions and answers on the rules that apply to financial investment advisers

Position DOC-2008-23 Questions and answers on the concept of investment service of investment advice

Position DOC-2012-08 Placement services and marketing of financial instruments

Recommendation DOC-2017-07 Future performance simulations

Position DOC-2018-04 Guidelines on MIFID II product governance requirements

Position DOC-2018-03 Placing of financial instruments without a firm commitment basis, investment advice and consultancy services provided to firms in relation to capital structure, industrial strategy and mergers and acquisitions

Position - Recommendation DOC-2017-08 Position/Recommendation supplementing Position 2013-02 on collecting know-your-client information

Instruction DOC-2012-07 Complaint handling

Position DOC-2013-02 Collecting 'know-your-client' information

IV. 2 - Specific provisions applicable to certain products

Position - Recommendation DOC-2011-24 A guide to drafting collective investment marketing materials and distributing collective investments

Instruction DOC-2017-06 Procedure for preparing and registering an information document that must be filed with the AMF by intermediaries in miscellaneous assets

Instruction DOC-2008-04 Application of business conduct rules to marketing of units or shares in UCITS or AIFs by asset management companies, management companies or managers

Position DOC-2010-05 Marketing of complex financial instruments

Position DOC-2013-12 Requirement to offer a guarantee (of the formula and/or capital, as appropriate) for structured UCITS and AIFs, "guaranteed" UCITS and AIFs and structured debt securities issued by special purpose entities and marketed to the general public

Position DOC-2014-04 Guide to UCITS, AIF and other investment fund marketing regimes in France

Instruction DOC-2014-03 Procedure for marketing units or shares of AIFs

Instruction DOC-2014-02 Disclosure to investors in unauthorised or undeclared AIFs

Position - Recommendation DOC-2013-13 Guide pour la rédaction des documents commerciaux dans le cadre de la commercialisation des titres de créance structurés

V - Market infrastructure

V. 1 - Regulated market and multilateral trading facilities

Position DOC-2020-02 Clarifications regarding the notion of trading venue, applicable in particular to financial instruments registered in a distributed ledger

Instruction DOC-2017-12 Position limits for commodity derivatives traded on Euronext

V. 2 - Central depositories, clearing houses, payment and settlement systems

Instruction DOC-2009-07 On the file to be submitted to the AMF by a CSD or a SSS manager, within the framework of the prior approval application to the AMF for allowing an institution to open an account with the CSD or take part in the securities settlement system

V. 3 - Other market participants

Instruction DOC-2019-05 Procedure of recognition of foreign exchanges

Position DOC-2013-14 Scope of the regulation on credit rating agencies

VI - Market abuse

VI. 1 - Accepted market practices

VI. 2 - Market soundings

Position DOC-2017-02 Persons receiving market soundings

VI. 3 - Whistleblowers

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Ratings in the Securitisation Industry

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Ratings in the Securitisation Industry

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01 March 2006

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